‘Synthetic Fraud’ Reaches Record Levels
- 5 months 15 hours ago
- Fraud Detection
New insights from Experian today reveal the rise of ‘synthetic fraud’ in the UK. Analysis of confirmed fraudulent and potentially fraudulent credit applications shows that there was an increase of 60% in false identity cases in 2024 when compared to 2023, with the cases now making up nearly a third (29%) of all identity fraud cases.
Fime Supports Fight Against Identity Fraud With FIDO ID Verification Accreditations
- 5 months 5 days ago
- Fraud Detection
Fime has achieved full FIDO Alliance Identity Verification (IDV) Certification Program accreditation across multiple regions. Both the Fime EMEA and Fime Taiwan testing laboratories can now support identity verification vendors in certifying their Document Authenticity and Face Verification solutions, helping combat fraud while enhancing the user experience.
Sift Introduces Identity Trust XD: Fraud Decisioning With Cross-Dimensional Identity at Its Core
- 5 months 1 week ago
- Fraud Detection
Sift, the AI-powered fraud platform, announced the launch of Identity Trust XD, an innovation for fraud and risk teams that delivers unprecedented visibility into digital identity behavior across multiple dimensions. The new offering accelerates more confident and accurate decisions powered by Sift’s Global Data Network, which processes more than 1 trillion events annually. The announcement was made today at MRC Vegas 2025, the Merchant Risk... more
Savings Accounts See Huge Surge in Mule-Linked Activity
- 5 months 1 week ago
- Fraud Detection
Taken from the ‘State of Fraud 2025: Banks and Building Societies’ report, the statistics are based on analysis of National SIRA. Owned and operated by Synectics, National SIRA is the UK’s largest source of evolving risk intelligence. It’s a vast pool of collated risk and fraud intelligence, sourced from the UK’s largest membership of over 150 organisations including Tier 1, mid-size, and challenger banks, and leading building societies.
Papaya Global and Sumsub Partner to Provide Clients With AI-Powered Fraud Prevention and Customer Verification
- 5 months 1 week ago
- Fraud Detection
Papaya Global, the workforce payroll and payments platform, and Sumsub, a full-cycle verification and compliance solutions provider, today announce their new partnership. Sumsub will support Papaya Global with AI-powered automated solutions for secure verification and fraud prevention, while maintaining speed, accuracy, and regulatory compliance.
Anti-Money Laundering Pros Find Expanding Uses for AI, but Adoption Remains Slow
- 5 months 2 weeks ago
- Fraud Detection
Using AI technology in anti-money laundering (AML) processes has become critical for financial institutions as they work to comply with regulations and combat financial crime. Even so, a new AML technology study from data and AI leader SAS, featuring contributions from SAS Partner KPMG, finds that interest in AI continues to outpace its full implementation. Based on a global survey of 850 members of the Association of Certified Anti-Money... more
ID-Pal Joins The Payments Association to Lead the Fight Against AI Fraud in the Payments Industry
- 5 months 3 weeks ago
- Fraud Detection
ID-Pal, a leading provider of AI-powered identity verification solutions, today announced its membership with The Payments Association, an influential community of industry leaders and innovators committed to shaping the future of payments.
New Global Survey Shows Nearly Half of Financial Services Executives Struggling to Manage Credit Risk and Detect and Prevent Fraud
- 6 months 4 days ago
- Fraud Detection
A new survey shows nearly half of all financial services executives are struggling with managing credit risk and detecting and preventing fraud. The survey also shows many are revamping their credit risk decisioning and fraud prevention strategies in 2025, with AI playing a prominent role.
Safer Internet Day: Ecommpay Records Significant Success in Fraud Protection for Merchants
- 6 months 1 week ago
- Fraud Detection
Ahead of Safer Internet Day 2025 (11th February), inclusive global payments platform, has reported its latest data on fraud protection for e-commerce merchants. Since early 2022, Ecommpay’s market-leading Graph Analysis tool has unveiled nearly 13,000 fraudulent chains involving almost 51,000 users across 207 unique merchants. 29% were confirmed scammers, while others were part of unsuccessful or unreported fraudulent attacks.
Worldpay to Acquire Ravelin, a Leading AI-Native Fraud Prevention Platform
- 6 months 1 week ago
- Fraud Detection
Worldpay®, a global industry leader in payments technology and solutions, today announced it has entered into a definitive agreement to acquire Ravelin, an AI-native fraud prevention platform headquartered in London, UK. The acquisition of Ravelin will complement and enhance Worldpay’s portfolio of value-added solutions and enable merchants of all sizes to grow faster and protect their businesses as fraud activity accelerates globally.
AuthenticID Annual Report Reveals Surge In Identity-Based Fraud Across Businesses
- 6 months 2 weeks ago
- Fraud Detection
Nearly half of businesses reported a growth in synthetic identity fraud, while biometric spoofs and counterfeit ID fraud attempts also increased, according to the 2024 State of Identity Fraud Report, released today by AuthenticID, a global leader in identity proofing and fraud prevention solutions. With identity fraud skyrocketing across multiple industries globally, the report offers a pulse check for business and consumer identity fraud.
Nova Credit Announces Advanced Document Fraud Detection for Income Navigator
- 6 months 2 weeks ago
- Fraud Detection
As the threat of fraud rises with the increasing use of generative AI, traditional methods of verifying consumer information have become inadequate. A recent study projects AI-driven fraud losses could reach $40 billion by 2027, highlighting the urgent need for more sophisticated fraud prevention. This risk is particularly acute in document-based income verification, where fraudsters use falsified documents to gain approval for apartments,... more
One In 10 Travellers Have Been A Victim Of Payment Fraud When Booking A Hotel
- 6 months 3 weeks ago
- Fraud Detection
New research published today by Adyen, the global financial technology platform of choice for leading businesses, has found that one in 10 hotel guests have been a victim of payment fraud when booking a hotel or as a consequence of staying at the accommodation.
Salv Opens Applications For Bridge Cohort To Protect Customers From APP Fraud And Disrupt Criminal Networks
- 7 months 1 day ago
- Fraud Detection
European Regtech scale-up Salv is inviting applications for the next cohort of its acclaimed Salv Bridge network. This exclusive cohort of 30 banks, fintechs and crypto companies will share intelligence to tackle the growing issue of Authorised Push Payment (APP) fraud.
